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Tom Lauricella predicts Anthropic's IPO will surpass SpaceX as the largest ever, drawing institutional 'must-own' demand despite unproven monetization.
Amazon booked $53B and Alphabet $99B in paper gains from Anthropic markups, making both stocks the cleanest proxies for the IPO.
SpaceX spiked 50% post-IPO then fell below its opening price within 3 months, setting the volatile template Anthropic investors will inherit.
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